Commonwealth's Master Equipment Leasing Program (Virginia)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Commonwealth's Master Equipment Leasing Program|
|Incentive Type||Leasing Program|
|Applicable Sector||Institutional, State Government|
|Eligible Technologies||Energy Storage, Unspecified technologies|
|Energy Category||Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs|
|Program Administrator||Virginia Department of Treasury|
The Master Equipment Leasing Program (MELP) ensures that all Commonwealth agencies, authorities and institutions obtain consistent and competitive credit terms for financing equipment and energy efficiency projects. Agencies can finance energy projects at a minimum of $10,000 and can make repayments over 3, 5, 7 and 10 year terms.
Qualifying Energy Projects Energy efficiency projects may include personal property, the installation or modification of an installation in a building, professional management, and other special services which are primarily intended to reduce energy consumption and demand or allow the use of an alternative energy source. Personal property is defined as new or reconditioned tangible personal property that includes personal property to be affixed to realty and must be used for governmental purposes.
MELP financed energy projects with relevant energy efficient technology include lighting and motor efficiency upgrades, building envelope enhancements, distribution system improvements, energy management controls.
Visit the Commonwealth's Master Equipment Leasing Program online for more information.
|Contact Name||Debora Greene|
|Department||Virginia Department of the Treasury|
|Address||101 North 14th Street|
|Phone 2||(804) 371-6235|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Va. Code § 2.2-2417|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.